Barclays Forecasts Strong Price Appreciation for Conagra Brands (NYSE:CAG) Stock

Conagra Brands (NYSE:CAG - Free Report) had its price objective boosted by Barclays from $27.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on CAG. Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Friday, December 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $27.90.

Conagra Brands Price Performance

Conagra Brands stock traded up $0.49 during mid-day trading on Monday, hitting $25.97. 7,994,201 shares of the company were exchanged, compared to its average volume of 5,128,605. Conagra Brands has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The business has a fifty day moving average of $25.71 and a 200 day moving average of $27.14. The company has a market capitalization of $12.40 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 earnings per share. As a group, sell-side analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is currently 205.88%.

Institutional Investors Weigh In On Conagra Brands

A number of institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands during the fourth quarter worth about $28,000. Riverview Trust Co acquired a new position in Conagra Brands during the fourth quarter valued at approximately $29,000. Grove Bank & Trust grew its holdings in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after purchasing an additional 447 shares during the period. AdvisorNet Financial Inc increased its stake in Conagra Brands by 86.1% in the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock valued at $40,000 after purchasing an additional 690 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Conagra Brands in the fourth quarter worth $41,000. 83.75% of the stock is owned by institutional investors and hedge funds.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.